Meet Denis Shtengelov, CEO of Liberty Orchards

Cashmere’s crown jewel, Liberty Orchards, was in brief peril when CEO Greg Taylor announced that the company would shut down if they did not find new owners by June of 2021. One owner stood amongst the rest, thus saving Cashmere’s most prized manufacturer of Aplets and Cotlets.

Liberty Orchards was originally created by two Armenian immigrants, Armen Tertsagian and Mark Balaban in 1918. Tertsagian’s grandson was the company’s CEO for over 40 years and had been searching for a successor tentatively towards the final tradeoff with KDV USA.

KDV USA bought Liberty Orchards shortly before Taylor’s deadline on May 31. Current Liberty Orchards CEO Mark Kipness helped broker the deal for the KDV Group. Kipness is based in New York. When Cashmere Valley Record attempted to contact Kipnis back in October of 2021, Kipnis remained unresponsive.

KDV Group itself was founded by Siberian CEO Denis Shtengelov, who reportedly had humble beginnings, selling roasted sunflower seeds or “semechki” shortly after the fall of the iron curtain in 1997.

Shtengelov took advantage of the country’s falling value of the ruble and bought a large share of chocolate from the earnings he received from selling sunflower oil to food distributors. Nowadays, KDV Group is ranked as the second-highest selling snack and confectionery retailer in the world with over 20 different companies from around the world.

Shtengelov and his family currently reside within the Gold Coast of Australia, where multiple Russian billionaires have called home. KDV recently built a tennis and golf academy at Carrara, an area on the Gold Coast.  In March of 2022, it was reported that Shtengelov denounced the war in Ukraine, calling it a mistake.